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Ripple (XRP<\/a>) price reached a 4-month peak of $0.57 earlier this week as bullish sentiment returned to the crypto markets. An in-depth analysis of the Derivatives markets data shows renewed investor interest this week has pushed XRP Futures Markets to a 70-day peak.\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n XRP emerged as one of the best performers in the Crypto<\/a> top 10 rankings this week. A series of bullish news events including the dismissed SEC lawsuit against Ripple had put XRP in a prime position to end October positively.\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n The relaxed regulatory pressures around Ripple has reignited investors\u2019 attention to XRP markets this week. According to Coinglass<\/em> \u2014 a derivatives market analytics platform, investor pumped $117 million capital inflows into XRP futures markets since the SEC case against Ripple\u2019s top executives was dismissed<\/a> around October 19. <\/span><\/p>\n As depicted below, XRP Open Interest increased by $483 million to $601 between October 18 and October 27.\u00a0<\/span><\/p>\n In the context of futures and options trading, Open Interests refers to the total number of outstanding contracts or positions that investors have opened for a specific asset. In increase in Open interest is a key indicator of vibrant market activity and increased liquidity.\u00a0<\/span><\/p>\n It means that new investors are bringing in fresh capital faster than those who are closing out their positions.\u00a0<\/span><\/p>\n Notably, the $177 million increase in XRP over the last 10 days has now seen the aggregate value XRP futures markets cross $600 million for the first time since August 16.\u00a0<\/span><\/p>\n It unsurprising that XRP spot price has jumped 19% from $0.48 to $0.57 during the those eventful 10 trading days between October 18 and October 27.<\/span><\/p>\n On Friday, reports emerged that the SEC and Ripple Labs are expected to proceed to finalize a $700 million settlement. The official outcome of the settlement could trigger significant price movement in the days ahead.\u00a0<\/span><\/p>\n The increase in Open Interest puts XRP in a prime position to break above thee critical $0.60 during the next upswing.<\/span><\/p>\n Ripple (XRP) price currently trades at $0.55 as the bulls make spirited attempts to sustain the momentum from last week\u2019s rally.\u00a0<\/span><\/p>\n In the daily time frame, the upper Bollinger Band indicates that XRP will face initial resistance is at $0.56. However, a decisive breakout above that level will likely lead to a larger upswing toward $0.60<\/span>\u00a0\u00a0\u00a0<\/span><\/p>\nXRP Derivatives Markets Volume Hits a 70-day Peak of $600M\u00a0<\/span><\/h2>\n
XRP Price Forecast: Is the $0.60 Territory is Within Reach?<\/span><\/h2>\n